嘉御资本卫哲：四年三轮重仓投资沪上阿姨，愿帮助更多国民品牌高质量发展

Core Viewpoint - The article discusses the successful IPO of Hu Shang A Yi, a tea beverage brand, on the Hong Kong Stock Exchange, highlighting its rapid growth and market positioning in the Chinese tea beverage industry [2][4]. Company Overview - Hu Shang A Yi was founded in 2013 and has expanded to 9,367 stores as of April 18, 2025 [2]. - The company operates under three main brands: "Hu Shang A Yi," "Hu Ka," and "Qing Xiang Ban," with the latter two launched in 2022 and 2023 respectively [2]. - The brand has achieved significant market recognition, ranking first among mid-priced tea beverage brands in Northern China and fourth overall in the industry as of December 31, 2023 [2]. Investment and Support - Hu Shang A Yi has received investments from notable firms including Jia Yu Capital, Jin Yi Capital, and others [3]. - Jia Yu Capital has been a key investor since 2020, holding 9.15% of the company prior to the IPO, and has provided strategic guidance to enhance the company's growth trajectory [4]. Market Position and Strategy - The company is recognized for its dual brand strategy and strong supply chain capabilities, which have contributed to its rapid expansion and market penetration [4]. - Hu Shang A Yi is noted for being the fastest-growing brand among the top five mid-priced tea beverage brands in China based on store count and GMV growth rates [2]. Future Outlook - The leadership of Hu Shang A Yi expresses confidence in continuing to enhance operational efficiency and digital membership systems to sustain growth [4]. - Jia Yu Capital aims to support Hu Shang A Yi in achieving higher quality development and expanding its market presence globally [4].